Aposense announces that it entered into a license agreement with Processa Pharmaceuticals to license out its anti-cancer pro drug the ATT-11TA.
PETACH TIKVA – June1, 2020 – Aposense, LTD. announced today that it has signed an agreement with Processa Pharmaceuticals, Inc. (OTCQB: PCSA) to license out the patent rights and the know-how to develop and commercialize their next generation irinotecan cancer drug, ATT-11T.
Irinotecan metabolizes to SN-38, an active anti-cancer moiety, used as first and second line therapy for many types of cancer (e.g., metastatic colorectal, small cell lung, pancreatic). Although irinotecan has a narrow therapeutic window and dose limiting adverse effects including an FDA “Black Box” warning for both neutropenia and severe diarrhea, irinotecan achieved peak annual sales of US$1.1 billion. ATT-11T is a novel lipophilic anti-cancer pro-drug, being developed for the treatment of the same solid tumors as prescribed for irinotecan. This pro-drug is a conjugate of a specific proprietary Aposense molecule connected to SN-38, the active metabolite of irinotecan. The proprietary Aposense molecule of ATT-11T allows ATT-11T to bind to cell membranes, to form an inactive pro-drug depot on the cell with SN-38, preferentially accumulating in the membrane of tumors cells and the tumor core. This unique characteristic generates a therapeutic window that is wider than that of Irinotecan, thus providing an anti-tumor effect of ATT-11T occurring at a much lower dose than irinotecan, concurrent with a milder adverse effect profile than irinotecan.
This wider therapeutic window will likely lead to a better anti-cancer therapeutic response, with less
side effects of ATT-11T compared to irinotecan. “This licensing of the ATT-11T to Processa is aligned with Aposense’s strategy as a platform technology company which commercializes its IP assets”. Said Yuval Gottenstein Aposense’s Chief Executive Officer.
The licensing agreement is conditioned upon Processa’s closing of the Satisfactory Financing Round and up-listing to the NASDAQ or NYSE. Subject to the terms of the Agreement and upon satisfaction of the conditions, Aposense will grant Processa a worldwide (excluding China), royalty-bearing right and license, including the right to sublicense. Under the terms of the Agreement, Aposense would receive shares in Processa with an aggregate value of $2.5M and could receive up to a maximum of $125M in potential development and sales milestones, as well as royalties of 7% based on net sales.
About Aposense, LTD.
Aposense is a highly innovative Israeli bio-pharmaceutical company, specializing in development of novel drugs, utilizing membrane electrical forces. Among others, Aposense developed a universal platform entitled Molecular Nano-Motors (MNMs) for the delivery of genetic drugs, such as siRNA, into cells.
About Processa Pharmaceuticals, Inc.
The mission of Processa is to develop products where existing clinical evidence of efficacy already exists in unmet medical need conditions, medical conditions where patients need treatment options that will improve survival and/or quality of life. The Company has assembled a proven regulatory science development team, management team, and Board of Directors. The Processa development team has been involved with more than 30 drug approvals by the FDA (including drug products targeted to orphan disease conditions) and 100 FDA meetings. For more information, please visit http://www.processapharma.com.